Italy Business Confidence Declines in July Amid Recession
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Italian business confidence declined this month more than economists forecast as executives became more concerned that the country’s economic recession will deepen in coming months.
The manufacturing-sentiment index dropped to 87.1 from a revised 88.7 in June, Rome-based national statistics institute Istat said today. Economists had predicted a reading of 88.5, according to the median of 14 estimates in a Bloomberg News survey. Istat originally reported a reading for June business confidence of 88.9.